The global genitourinary drugs market may find better growth prospects with surging demand and expanding healthcare. Genitourinary drugs are expected to dominate a large part of the pharmaceuticals market. Genitourinary drugs refer to pharmaceuticals used to treat diseases of the urinary and genital organs such as kidneys, ureters, bladder, urethra, and others. The large spectrum of diseases originating from these organs drives a large market for genitourinary drugs.
According to Market Research Future (MRFR), the global genitourinary drugs market share accounts for a valuation of USD 28,200 MN in 2018. In its recently published analysis, MRFR also asserts that the market would register a CAGR of over 1.65% over the assessment period (2018-2023). Growing demand for genitourinary drugs owing to growing prevalence of genitourinary diseases and expanding healthcare are the key driving force behind the substantial market demand.
According to the Centers for Disease Control and Prevention, urinary tract infections are the most common infection demanding medical care and causing almost 9.6 million ambulatory care visits. The economic burden of urinary tract infections is almost US$ 2 Bn annually. Urinary tract infections also are the leading cause of antibiotic use in the U.S.
Surging healthcare expenditure, growing world population, and growing per capita income can trigger better growth for the market. The expansion of healthcare infrastructure, including the dramatical increase in the number of hospitals and clinics, can bolster the growth of the market. The growing number of geriatrics is another driver of the market. According to the Department of Economic and Social Affairs of the U.N. almost 12.4% population in the Asian countries are more than 60-year-old.
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Players leading the global genitourinary drugs market include Abbott, Astellas Pharma Inc., AstraZeneca, Pfizer Inc., Eli Lilly and Company, Genentech, Inc., Immunex Corp., GlaxoSmithKline plc., Ionis Pharmaceuticals, Merck Co., Inc., Novartis AG, Bristol-Myers Squibb Company, Antares Pharma, Bayer AG, among others.
Global Genitourinary Drugs Market – Segments
The report contains four dynamics to widen the scope of understanding,
By Disease : Urinary Incontinence Overactive Bladder, Urinary Tract Infections, Genitourinary Cancer, Kidney/Renal Cancer, Cervical Cancer, Bladder Cancer, Interstitial Cystitis, Sexually Transmitted Diseases, Ovarian Cancer, Hematuria, Prostate Cancer, among others.
By Product : Urologicals, Hormonal Therapy, Gynaecologicals, Anti-Infectives, among others.
By End-use : Hospitals, Clinics, Specialty Centers, and others.
By Regions : the APAC (Asia Pacific), North America, Europe, and the Middle East and Africa.
Global Genitourinary Drugs Market – Regional Analysis
North America dominates the global genitourinary drugs market with the largest market share led by the U.S. As opined by the National Kidney Foundation, urinary tract infections account for almost 10 million physician visits every year and roughly, 20% females suffer from urinary tract infections at least once during their lifetime. Factors such as the enactment of the Hospital Readmissions Reduction Program (HRRP) is expected to drive the growth of the North America market. According to the CDC, 75% of infections of the urinary tract in hospitals are associated with the use of urinary catheters. The growing use of urinary catheters, which account for 15-25% of hospitalized patients is a large driver of the genitourinary drugs market.
The genitourinary drugs market in Europe is growing rapidly. The proliferating healthcare industry and greater rates of hospital admissions in the region are expected to boost market growth.
The Asia Pacific genitourinary drugs market is projected to become the largest market globally owing to expanding economy and per capita income. Growing pharmaceutical manufacturing and a large population drive the growth of the Asia Pacific market.
The MEA (Middle East Africa market) is expected to account for a large growth owing to low penetration and large potential growth. However, poor economic and political conditions are hampering the growth of the market.
Global Genitourinary Drugs Market – Competitive Landscape
The genitourinary drugs market appears to be fragmented and highly competitive due to the presence of several big and small players. The market is commoditized and major drug classes are generic. The market has also suffered a loss of exclusivity owing to patent expiration.
Thus, there is a lot of overcapacity in the market, especially in the antibiotics sector. China has a large antibiotics API manufacturing capacity which is idle resulting in large fall in prices. Many players have exited the antibiotics manufacturing which is a downside of the market.
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